Disposal of Security. If there occurs an Event of Default (defined below), the Bank may, without giving notice to the Customer, dispose of the Security by set-off, private sale, auction or otherwise, to the greatest extent permitted by law, and the expenses incurred thereby shall be borne by the Customer and, be reimbursed to the Bank, on demand, together with interest thereon at the Applicable Rate. Any and all proceeds of such disposal shall be applied against the repayment/payment/pre-payment of the Obligations and/or to deposit the same to the Special Account, as the Bank deems appropriate. If said proceeds are insufficient to repay/cash collateralize all of the Obligations, the Customer shall pay to/deposit with the Bank, on demand, the balance thereof.
Disposal of Security. 6.1 You are authorised without demand for payment or notice or further consent of any person to sell or otherwise dispose of all or any of the goods at such times or times in such manner and for such consideration (whether payable or deliverable immediately or by installments) as you may in your absolute discretion think fit without being under any responsibility to us for the price obtained thereby in any of the following events.
Disposal of Security. Upon the occurrence of an Event of Default or invocation of Acceleration (defined below) or where the Customer fails to perform any of its obligations under this Agreement, Application, Facility Letter or Facility Documents, the Bank may, to the fullest extent permitted by law, without giving notice to the Customer, dispose of the Security assets in accordance with the applicable laws by way of set-off, private sale, auction, transfer or other method, or transfer the ownership of the Security assets to the Bank. The expenses incurred shall be borne by the Customer and if the Bank disburses such cost, the Customer shall reimburse the Bank immediately upon request by the Bank, together with interest accrued and calculated at the Applicable Rate. Any and all proceeds of such disposal shall be applied against sums due and owing by the Customer in such order of priority as the Bank deems appropriate at its sole discretion, and/or be deposited into the Special Account. If said proceeds are insufficient to repay or secure all of the Obligations, the Customer shall bear repayment obligations over any balance of the Obligations (including interest and fees) due and payable, and, upon request of the Bank, shall make up the differences and deposit into the Bank. Unless prohibited by the mandatory provisions of laws, at the time of any such sale, transfer or transfer the ownership to the Bank, the Bank may purchase any part of the Security assets being sold free from and not subject to any trust, claim, right of redemption, right of first refusal and any other rights the Customer or a third party may be entitled to under the agreements or pursuant to the applicable laws and regulations.
